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    3220 Penn Ave Pittsburgh, PA 15201

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    For Sale
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    24,000 SF Flex Building, 100% Occupied

    Property size:
    24,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 24,000-square-foot flex industrial building presents a compelling investment opportunity in Pittsburgh's vibrant Strip District. Situated on a 0.84-acre lot, the property boasts a prime location, offering convenient access to numerous amenities. Currently 100% occupied by three tenants, this presents a strong, stable cash flow for investors. The building features three drive-in doors and ample parking with 28 spaces. Its RIV-IMU zoning allows for a variety of uses, and the substantial lot size presents potential for future vertical construction. The property's strategic location provides easy access to major transportation arteries, including a 1.9-mile proximity to the central business district (CBD), and within 2.1 miles of Route 28, I-376, and I-579. This turnkey investment is ideal for those seeking immediate income generation and long-term appreciation potential in a rapidly developing area. The property is offered as a triple net (NNN) lease, with the existing tenants providing a consistent revenue stream. This is a rare opportunity to acquire a well-located, fully occupied industrial property in one of Pittsburgh's most dynamic neighborhoods. The potential for future development adds significant value to this already attractive investment. Don't miss this chance to own a piece of the Strip District's thriving commercial landscape.

    Property Features for 3220 Penn Ave

    General Information

    Property type
    Flex space
    Square Feet
    24,000 SF
    Lot Size
    36,590 SF

    HighLights

    • 24,000 SF flex industrial building.
    • 0.84‑acre lot.
    • Potential for vertical construction.
    • 100% occupied by three tenants, offering strong cash flow.
    • Located in Pittsburgh's Strip District.
    • Excellent access to amenities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Work America Uniform Store Shred America Iron ... Shredding Service Iron City Document ... Shredding Service

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Pittsburgh
    County
    Allegheny
    State
    Pennsylvania
    Longitude
    -79.9690596
    Latitude
    40.461122

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    FAQs

    What type of property is this?
    Flex space - 24,000 SF Flex Building, 100% Occupied
    Where is this flex space located?
    The property is located at 3220 Penn Ave Pittsburgh, PA.
    What are key features of this property?
    This property features: 24,000 SF flex industrial building.; 0.84-acre lot.; Potential for vertical construction.
    Request Owner's contact information
    3220 Penn Ave Pittsburgh, PA 15201
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    Pittsburgh, PA 15201
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3220 Penn Ave Pittsburgh, PA 15201
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